Nov 4, 2009 4:00pm EST
passed a bill that puts the rules into effect december 1st. lisa myers reports. >> reporter: for months now, consumers have been outraged by unwelcome credit card notices. bailed-out citibank is doubling this man's rates to 30%. >> it does anger me because here i am a citizen and i helped bail them out. >> reporter: hank parker got his second rate increase this year from citi on the $3,500 he owes. >> i'm getting whacked with 30% on an interest rate? it just knocked me over. >> reporter: linda and jay downsized to pay all their bills after their consulting business was hit hard on the economy. chase doubled the interest rate on their $5,000 credit card bill to 15%. >> it was an injustice. it was a great injustice to us who worked so hard and we weren't missing any payments. >> reporter: the law signed by the president in may would prevent credit card companies doing exactly what was done to these three consumers, raising rates on existing balances, money consumers already spent. congress agreed to give the banks until next february to comply. >> the banks asked for additional time to up
Nov 24, 2009 4:00pm EST
away with huge payouts while their shareholders were almost losing everything. lisa myers has more on the story. >> reporter: it was the relatively phase of the financial meltdown last year. first bear stearns was sold to avoid collapse. lehman brothers went bankrupt. shareholders lost billions and thousands of employees lost jobs. a new study by experts at harvard law school titled "wages of failure" found that since 2000, the top five executives at each firm had received staggering amounts of cash bonuses and sold mountains of stock. bear stearns executives cashed out about $1.4billion, and lehman brothers, $1 billion. >> people who invested in these companies should feel betrayed. the whole idea of capitalism in that the people provide their capital and executives take care of it for us. in this case people provided their capital and the executives took it. >> reporter: the study found when the firms collapsed, both bears ceo lost about $900 million worth of stock, but the study said they still camout well ahead overall. cain walked away with $388 million and fold $541 million.
Nov 10, 2009 4:00pm EST
nasa astronaut lisa nowak apologized to her alleged victim. >> i am sincerely sorry for causing fear and misunderstanding. >> reporter: colleenshipman urged the judge. >> i believe she came here to murder me. >> reporter: in a deal with the district attorney, nowak pleaded guilty to felony burglary of a car and misdemeanor battery. >> how do you plead? >> gimty. >> as to the charge of misdemeanor battery, how do you bleed? >> guilty. >> reporter: she had originally been charged with two felonies, kidnapping and burglary which could have rouletted of life in prison. nowak is accused of attacking shipman in a business a love triangle. shipman described how nowak hunted her down and attacked her. >> she gathered weapons and torture d torture devices. she made a frantic cross country trip to confront shipman. nowak allegedly stalked shipman to a parking lot and pepper sprayed her. the judge sentenced nowak to one-year probation and ordered her to have no contact with shipman or oefelein. she remains on active duty with the navy. >> the judge says nowak's lack of a criminal history a